Comments on: Perhaps Demand Curves Slope Upward to the Right – or, Alternative-Universe Economics

By: Anonymous

Anonymous — Wed, 18 Nov 2009 08:09:00 +0000

I read Landsburg to be saying the same thing — I’m sure he doesn’t believe it’s the case that Krugman actually forgets his economics.

By: Anonymous

Anonymous — Wed, 18 Nov 2009 03:14:00 +0000

Steve
After reading any recent column by Krugman I find myself screaming. It doesn’t realize how the real world works. You have shown me why this is true. Also he joins that distinquished
Nobel winners list of Carter, Gore, etal.

By: indianajim

indianajim — Tue, 17 Nov 2009 01:05:00 +0000

When I was in grad school, my professor told me that whoever would find a solid exception to the law of demand would have a shot at the Nobel in economics. But my professor seems to have been completely wrong for it seems that IF one has a Nobel in economics, THEN he is free to claim exceptions to the law of demand willy-nilly as Krugman has. Krugman is in good company too with another Nobel winner, Gary Becker, who cavalierly (sans evidence) claimed that restaurant demand was alternatively downward sloping, then upward, then downward again (resembling a roller coaster). But at least Becker knows that “discretion is the better part of valor”; he has declined the offer extended by Dan Klein to respond to the critique of his roller-coaster-shaped-demand curve that Klein published in his EJW. Still, it should shame a Nobel winner to be on Klein’s “sounds of silence” listing (of challenged authors who haven’t the stomach for debate, or the humility to admit error).

By: Anonymous

Anonymous — Mon, 16 Nov 2009 19:17:00 +0000

Don’s title is on the money. I’m surprised Krugman forgot this fact.

Everyone would love to slack off and get paid for it. But slacking off at work gets you fired.

BUT!

If you make it harder to fire people, the “cost” of slacking off at work – chances of getting fired – goes down. As per the demand curve, people will demand more of this particular activity. They’ll slack off on the job more. Their productive output will VERY likely fall.

Then again, I suppose this isn’t THAT far off for Krugman and his fellow Keynesians. They’ve been confusing employment for productivity for generations.

By: Mark

Mark — Sun, 15 Nov 2009 21:15:00 +0000

“Allow me to introduce you to the concept of a tradeoff – you tradeoff costs in boom periods when the costs are easier to bear with benefits in busts. ”

Wonk wonk wonk. Daniel thinks he’s better than the invisible hand.